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Answer :
Answer:
Debit: Cash - $25
Credit: Sales - $25
This entry shows that Just Pens received $25 in cash as a result of the sale and also records the revenue earned from the sale in the Sales account.
An account refers to a record or financial repository that tracks and summarizes financial transactions related to a specific entity, such as an individual, company, or organization. Accounts are used to organize and monitor various aspects of financial activity. In the context of accounting, accounts are categorized into different types, such as asset accounts, liability accounts, equity accounts, revenue accounts, and expense accounts. Each account has a unique identifier and contains a running balance that reflects the increases and decreases in its corresponding transactions. Accounts are essential for financial reporting, analysis, and decision-making, providing a comprehensive view of an entity's financial position and performance.
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Rewritten by : Brahmana